02.08.2011 - Luxury property booms in London with GBP3.7mln average as rest of UK slumps

Prices of luxury homes in the capital are soaring – while slumping in the rest of the country. New figures show prices of central London properties worth more than £1million rose by almost 10 per cent in the past year – compared with homes across the UK, which lost 0.4 per cent of their value.
Since March 2009, luxury mansions and apartments in the capital’s most fashionable districts have seen their value increase by more than a third. In the same period, the average increase for UK homes has been just seven per cent..............................................Full Article: Source